Street Smart Success

As the economy contracts, the need for affordable housing will be greater than ever. That’s why consumer demand for Mobile Home Parks will continue to expand. Max Dowd is Director of Acquisitions & Investor Relations at Cook Properties, the largest owner of Mobile Home Parks in the state of New York that recently acquired a $124 Million portfolio of 2300 pads across over 100 communities.

In order to be successful in Real Estate, you need to understand markets and trends. When certain asset classes get too frothy, you need to look for other opportunities to get the best returns. Ken Naim, a successful Real Estate investor, doesn’t try to fit a square peg into a round hole in late cycle markets. Instead, Ken looks for opportunistic deals across asset classes as long as the prices are low enough that he can’t possibly lose money. Recently, Ken has made highly lucrative deals in off-market warehouse space and office. He’s now looking at a land deal in a path-of-progress market where he’s going to entitle the land and get It rezoned. This project can potentially result in an increase in value 3 to 4x in 12-18 months.

Whether it’s flipping, buying-and-holding, holding notes, or investing in syndications, there are countless ways to get great returns on capital. Today’s guest, Matthew Owens, is doing pretty much all of these things. Matt has bought, renovated & sold or held over 1000 properties in the last 15+ years and has raised over $75 million in private capital to accomplish this feat.

In any economy, there are some homeowners in various stages of distress and not current on their mortgages. Even though this can feel overwhelming to the homeowner, there are constructive ways to minimize the fallout of this situation, including short sales. For investors, short sale properties can be a great way to find a property at an attractive discount. Matt Merenoff, Owner / Operator at Real Estate Recovery Group, helps sellers, buyers and lenders create solutions where all parties benefit. Matt has is also the author of Amazon best seller Short Sale Savage.

Getting started is the hardest part of anything you’ll do in life. Once you get over the fear and take the first step, things tend to fall in place. Bennett Schwartz, Performance + Executive Coach, Real Estate Investor, and Speaker, has started out by converting a large single family home into four units and also converting a duplex into an AirBnb. He’s now pursuing larger deals where he lives in Philadelphia.

When it comes to multifamily investing in particular, property manager is where the rubber meets the road. Especially with bigger properties, there are too many things at an apartment complex that can go wrong on a daily basis. Alex Rogers, Principal at Gray Duck companies in Duluth, has a sizable property management company that makes him qualified to operate multifamily properties on a larger scale and generate great returns for investors.

Even with inflation and rising interest rates, there are still major tailwinds for Multifamily properties in the right markets. There is still a large undersupply of housing, especially in growth markets, and many first time homeowners can’t afford to buy new homes, all of which is creating a supply/demand imbalance. Today’s guest, Eric Sussman, is a Founding Partner at Clear Capital. Clear Capital has invested in, remodeled, and managed more than 50 multifamily properties across the Sunbelt and Mountain regions of the US since 2007.

In this market, finding an asset class not priced through the roof is incredibly difficult. RV resorts, however, are being priced attractively. These aren’t RV Parks, but actual RV Resorts with classic comforts and amenities where families can enjoy activities like swimming, fishing, or eating at an onsite café or restaurant. Sam Wilson, Founder of Bricken Investment Group, is lately focusing on RV Resorts that provide great risk adjusted returns for his investors.

When you’re starting out, you don’t always have money to work with. If you’re willing to be resourceful, you can find partners to find deals for and participate in the upside. Additionally, you can find sellers willing to carry paper so you can do your own deals. 

Bailey Kramer, Real Estate Investor, Airbnb Host & Co-Host, and Entrepreneur, got off to a great start finding deals for another investor and is now generating cashflow as an AirBnb host and also managing other people’s AirBnb’s.

Learn more at https://www.streetsmartsuccess.com

A lot of smart people believe we’re headed into a severe economic downturn, maybe as bad as 2008. In Multifamily Real Estate in particular, a lot of operators paid extraordinary amounts for properties in the last couple years with short-term bridge debt. With interest rates and expenses skyrocketing and tenants potentially unable to pay the increased forecasted rents, operators may not be able to secure long-term financing. 

Rod Khleif, who has the # 1 Real Estate podcast on Itunes – The Lifetime Cashflow through Real Estate podcast, plus teacher to thousands, predicts we may be in for very choppy waters. As a result, operators may have amazing opportunities to acquire in the months to come.

Learn more at https://www.streetsmartsuccess.com